# Funding target: ten Reliable Power Microgrids (Oct 2026)

> **Provisional, 21 Oct 2026.** Owner: Aaron Tushabe. NFE's working fundraising target for the revised funders' pitch. Nothing here is committed: the allowances are planning figures until site assessments and EPC quotes come in, and the [funders' pitch page](https://nearlyfreeenergy.com/funders-pitch/) stays unchanged until the deployment milestones are set.

## The target

**US$500,000 of total programme capital** to target **ten new Reliable Power Microgrids** in Uganda over an indicative **18 months**:

- **7 Commercial RPMs** (70%, within the 60–80% commercial mix) and **3 Residential RPMs**
- **US$315,000** for installations, and **US$185,000** for monitoring, project preparation, delivery capacity, software, working capital and contingency
- **US$550,000** if we want room for a fourth residential site while keeping the full contingency

## Illustrative portfolio

| Deployment type | Number | Indicative battery size | Installed allowance each | Total |
|---|---|---|---|---|
| Smaller Commercial RPM | 3 | 30–40 kWh | US$15,000 | US$45,000 |
| Medium Commercial RPM | 3 | 60–80 kWh | US$25,000 | US$75,000 |
| Large Commercial RPM (Worship Harvest scale) | 1 | ~120 kWh | US$45,000 | US$45,000 |
| Residential RPM | 3 | Site-dependent | US$50,000 | US$150,000 |
| **Installations** | **10** | | | **US$315,000** |
| Monitoring, preparation, delivery, software, working capital, contingency | | | | US$185,000 |
| **Programme total** | | | | **US$500,000** |

The commercial allowances cover solar, inverters and installation, not just the battery, and average about US$23,600 per commercial site.

## How the figure was reached

| Step | Target | What changed |
|---|---|---|
| First pass | US$600,000 | 7 commercial + 3 residential sites; about US$430,000 for installations |
| Checked against NFE's July 2026 SRNE supplier price list | US$650,000 | Equipment for a ~120 kWh / 60 kW / 40 kWp commercial system came to about US$30,750 before the remaining installation costs, so the plan allowed US$45,000 per commercial site and US$50,000 per residential site |
| Worship Harvest treated as one of the larger sites, not the average (Aaron) | **US$500,000** | Commercial sites split into 3 smaller, 3 medium and 1 Worship Harvest-scale; the US$185,000 non-installation budget kept |

## Assumptions and caveats

- **Residential scope is the biggest uncertainty.** US$50,000 per site assumes modest communities with usable existing distribution. Larger communities, extensive new wiring or longer backup would raise it. It needs its own sizing review.
- **Allowances, not quotes.** Every installation figure waits on site assessments and EPC quotations.
- **No offsets assumed.** Customer deposits, future revenue and uncommitted loans are not counted against the requirement.
- **Exchange rate.** The allowances are in dollars, while local quotes come in shillings and the shilling has been volatile ([Macro outlook](https://bookstack.nearlyfreeenergy.com/link/154)). For comparison, the Worship Harvest model CAPEX of UGX 120–145m is roughly US$29–35k at about UGX 4,150 per dollar, so the US$45,000 allowance leaves room for a complete deployment.
- **Sources of capital.** The draft treats this as total programme capital that could combine grants and project finance. ChatGPT's draft also mentions "patient equity", but the [Fundraising Tracker](https://bookstack.nearlyfreeenergy.com/link/16) records that NFE no longer pursues equity funders because, as a co-op, it has no equity to offer. Settle the wording before the pitch goes out.

## Draft pitch line

> NFE is raising US$500,000 to target ten new Reliable Power Microgrids in Uganda, with 60–80% of deployments serving commercial facilities and the remainder serving residential communities. Over an indicative 18-month programme, this capital will fund customer assessments, microgrid installations, and the software and operating capacity needed to deliver reliable electricity as a service.

*ChatGPT's wording, with the figure updated from US$650,000 to the revised US$500,000.*

## Still to settle

- [ ] Deployment milestones for the pitch (needed before the web page changes)
- [ ] Residential site sizing review
- [ ] 7 + 3 sites (US$500,000) or room for a fourth residential site (US$550,000)
- [ ] Which sources of capital to name in the pitch
- [ ] Save the final pitch revision (v0.1 is in Aaron's ChatGPT session) here or in Nextcloud, then update the web page

Related: [NFE Commercial Reliable Power Microgrids](https://bookstack.nearlyfreeenergy.com/link/146) · [Commercial RPM economics and bankability](https://bookstack.nearlyfreeenergy.com/link/189) · [Commercial RPM decision log](https://bookstack.nearlyfreeenergy.com/link/187) · [Fundraising Tracker](https://bookstack.nearlyfreeenergy.com/link/16)

*Source: Aaron's ChatGPT working session "[Commercial RPM Modeling](https://chatgpt.com/share/6ad9401b-630c-83e8-8b7f-81442a96aec3)", 21 Oct 2026.*